As the sun sets on January 26, 2024, casting shadows across the nation, the stark truth about Nigeria’s economic status is laid bare.

With the exchange rate soaring at $1 to N1,427, the World Bank’s international poverty line at $2.15/N3,068 per day or N92,041.5/$64.5 per month seems like an elusive dream for the majority.

According to recent records from the National Bureau of Statistics (NBS), a staggering 92% of Nigeria’s population is grappling to survive on a meager income of less than N80,000/$56 per month or $1.86/N2,667 per day.

This places the everyday Nigerian in a precarious position, struggling to make ends meet.

In a sobering revelation, it is declared that anyone earning a monthly income of N100,000 or less, after accounting for taxes and allowances, is now TECHNICALLY POOR.

The harsh truth demands that those falling within this income bracket acknowledge their vulnerability and consider themselves amongst the growing list of impoverished Nigerians.

The ominous forecast doesn’t stop here. The bold declaration by OBIARAERI, NNAEMEKA ONYEKA warns that if drastic measures are not taken by the authorities to reverse the current fiscal, monetary, and socio-economic trajectory, the exchange rate may skyrocket to above N2,000 per dollar by the end of February 2024.

This grim prophecy serves as a wake-up call, urging both citizens and policymakers to reflect on the ethno-religious complexities and other contributing factors that have played a role in importing the plagues currently ravaging the nation.

As Nigerians brace themselves for the unfolding economic challenges, the question remains: Will the powers that be heed the call for change before it’s too late?

Written By OBIARAERI, NNAEMEKA ONYEKA